MakeMyTrip Limited (MMYT) Expected to Post Earnings of -$0.12 Per Share

Wall Street brokerages forecast that MakeMyTrip Limited (NASDAQ:MMYT) will report earnings of ($0.12) per share for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for MakeMyTrip’s earnings. MakeMyTrip posted earnings of ($0.30) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 60%. The business is scheduled to announce its next quarterly earnings results on Thursday, February 14th.

On average, analysts expect that MakeMyTrip will report full-year earnings of ($0.81) per share for the current year. For the next year, analysts expect that the business will post earnings of $0.51 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for MakeMyTrip.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Thursday, October 25th. The technology company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.03). The firm had revenue of $160.10 million during the quarter. MakeMyTrip had a negative return on equity of 11.27% and a negative net margin of 32.59%.

A number of brokerages recently issued reports on MMYT. Zacks Investment Research lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Thursday, November 8th. BidaskClub lowered MakeMyTrip from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 22nd. Bank of America lifted their price objective on MakeMyTrip from $39.50 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, September 11th. ValuEngine cut MakeMyTrip from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Finally, Goldman Sachs Group upgraded MakeMyTrip from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $40.00 to $33.00 in a report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $31.13.

Shares of MakeMyTrip stock traded down $0.43 during trading on Friday, reaching $24.09. The company’s stock had a trading volume of 4,090 shares, compared to its average volume of 315,921. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -11.04 and a beta of 0.02. MakeMyTrip has a 1-year low of $20.82 and a 1-year high of $41.70.

A number of hedge funds and other institutional investors have recently bought and sold shares of MMYT. Acadian Asset Management LLC purchased a new position in MakeMyTrip in the third quarter valued at about $108,000. Fox Run Management L.L.C. acquired a new stake in MakeMyTrip during the third quarter worth approximately $235,000. Cubist Systematic Strategies LLC boosted its position in MakeMyTrip by 30.7% during the second quarter. Cubist Systematic Strategies LLC now owns 9,082 shares of the technology company’s stock worth $328,000 after acquiring an additional 2,133 shares during the last quarter. Krane Funds Advisors LLC boosted its position in MakeMyTrip by 90.6% during the second quarter. Krane Funds Advisors LLC now owns 9,149 shares of the technology company’s stock worth $331,000 after acquiring an additional 4,349 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in MakeMyTrip during the second quarter worth approximately $360,000. 44.31% of the stock is owned by hedge funds and other institutional investors.

MakeMyTrip Company Profile

MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.

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